01
Business Interruption
Previously, companies planned for isolated events. But the risk landscape is now more interconnected than ever before.
Industry Overview
Natural Resources
Evolving to Meet Urgent Challenges and New Expectations
Mounting geopolitical and societal pressure to tackle climate change weighs heavily on the natural resources industry, impacting all facets of strategy. Across the industry, organisations seek technical advances to support our transition to carbon neutrality, all while competing fiercely to attract and retain the talent required to make breakthroughs possible. Meanwhile, traditional concerns, including cyber, operational, and reputational risks remain as pertinent as ever.
In this environment, companies must adopt holistic risk management and workforce frameworks that cover both physical and human assets, take into account expanding environmental, social and governance (ESG) expectations, and reflect the industry’s rapidly rising insurance needs.
At Aon, our teams have deep experience across all segments of the natural resources industry—including alternative energy, chemicals, distribution, mining, oil and gas, power generation, renewables, and utilities. We leverage our understanding of the unique risks you face to conduct risk assessments, implement novel risk transfer solutions, provide claims advocacy, deliver tailored insurance programmes to address evolving environmental liabilities, manage supply chain disruptions, support regulatory compliance, and build dynamic and resilient workforces.
Top 5 Current Risks
According to our latest Global Risk Management Survey, the biggest risks facing the Natural Resources industry include:
Better Decisions on Risk Capital and Human Capital for Renewables
Opportunities abound within the dynamic and rapidly evolving renewable energy sector. However, as the industry grows, so does the complexity of risks, from rising material costs and disrupted supply chains to threats from economic uncertainty and geopolitical instability. Developers are at the frontline of these interconnected headwinds, which are challenging the viability of traditional commercial strategies and protections.
Better Decisions on Risk Capital and Human Capital for Mining Organisations
The mining industry plays a fundamental role in advancing humanity’s progression, with immense potential to drive positive change for both people and the planet. By embracing digital transformation, prioritising sustainability and building more robust risk mitigations, organisations can gain the agility needed to respond to a rapidly changing world.
More Insights
-
Article 17 Mins
How Insurance Helps Unlock Capital for Hydrogen Projects Amid Financing Pressures
Funding challenges due to macroeconomic factors have prevented several green and blue hydrogen projects from getting off the ground. Organisations facing hurdles in accessing capital can work with risk and insurance experts to expedite projects and help make the promise of hydrogen a reality.
-
Article 6 Mins
Leading the Biofuels Transition: Risk Strategies to Cut Through Complexity
Companies aiming to be a net-zero company may face many challenges during the biofuels transition. Read more on risk strategies to cut through complexity.
-
Article 11 Mins
Enhancing Cyber Resilience in the Renewables Sector
Renewable energy is critical to meet net-zero targets, but as the industry grows, so do cyber attack surfaces. Learn how to prepare for emerging threats and support long-term ambitions.
-
Report 3 Mins
Better Decisions in Trade, Technology, Weather and Workforce
From global supply chain risks to climate insecurity, organisations face challenges and complexities on a scale rarely seen before.
-
Report 3 Mins
Risk Capital and Human Capital Perspectives
Risk Capital CEO Andy Marcell and Human Capital CEO Lambros Lambrou discuss how innovations in Risk Capital and Human Capital can help organisations boost resilience and navigate volatility.
-
Article 8 Mins
Energy Transition Investments: How Advanced Analytics Can Empower Organisations
Advanced analytics can empower organisations with deeper insights into the risks and opportunities surrounding renewables, while also supporting energy transition investment.
